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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #102,101
  • Sep 22, 2011 5:28am Sep 22, 2011 5:28am
Quoting infx34
hello pinbar wanted to ask you that is james16 site worth to be joined or not ... a Genuine answer from a genuine person... waiting for ur reply

The answer to that is, for Sure.
However, I will say for people who are thinking of joining the PF that, it is a rather large site, which personally suited me but I heard some people can find it daunting.
Also, you have to do the work, meaning that people are not spoon fed and need to actively seek not only the answers but also the questions.

I can honestly say, that from my personal experience, it was well worth the money and effort, unlike what you will probably ever find on another trading tuition site.
  • #102,102
  • Sep 22, 2011 5:31am Sep 22, 2011 5:31am
Quoting snowly
and put the stop where?

basically that was the whole question - anything > 1.2 is... in the middle of the field(nowhere to hide) and under 1.2... well, I already had it at break even and under 1.2 would mean giving up 60% of the gains case it's hit.

plus it's a matter of gains too; it's the 2nd best trade I took this year after a short jpy on 16th march flash crash when I also happened to be on. Only the part I had running was more then I plan for 1 month as average...

I loathe bringing sl to be normally, but 60% of this one was a hefty...
I get it.. just didn't want to risk losing all those pips due to the hope of getting even more pips eh? I get that a certain point in every successful trade and then regret as it keeps going in my direction a few days after.
  • #102,103
  • Sep 22, 2011 5:42am Sep 22, 2011 5:42am
This pair on my watching list. I anticipate based on current data a strong move & I am bias to the upside BUT no buy setup yet.
  • #102,104
  • Sep 22, 2011 5:48am Sep 22, 2011 5:48am
Quoting supremeChaos
so far, no sign of BOJ intervention.
i have to say thank you for posting your chart (i did some quick trades).
if the market or BOJ doesnt step in, this could move down quite a bit.
So we both make some pips, thats good to hear. Im full out for +100 or so and decided to enjoy rest of the week in non-trade mode lol. Hope ur still in with some lots, keeps on falling nicely
  • #102,105
  • Sep 22, 2011 6:02am Sep 22, 2011 6:02am
Quoting kruger
chart
Target hit @1.3428, 2/3 closed, Sl moved @ FTA
W Szczebrzeszynie chrząszcz brzmi w trzcinie
  • #102,106
  • Edited 6:28am Sep 22, 2011 6:16am | Edited 6:28am
Quoting fascist
I get it.. just didn't want to risk losing all those pips due to the hope of getting even more pips eh? I get that a certain point in every successful trade and then regret as it keeps going in my direction a few days after.
1. that(I was always piss poor at letting profits run and I'll readily admit - I'm good at taking losses once in a blue moon, but not at letting profits run).

I like monthly targets, small risks at entrance(but I'm ready to risk solidly to salvage a position) and taking the "meat" out of the move and leaving the bones for others. All in all, not the bravest of the lot, but I'm here for money, not glory.

And I'm fully aware of my character, so I don't try things that conflict with it. Also, I'm of the happy few who was always fine with himself; so I don't see many reasons to try to change - ergo, trading style has to adapt to me, not the other way around.

2. at 1st red rectangle - snb pegs chf to eur. Crowd sees this as meaning support for eur/usd. Also, the dumb algos seeing chf up, understand it's risk on.

O'rlly?. Sell!

at 2nd red rectangle - greece will default this weekend.

O'rlly?. Because GPap or Merkel called wsj or whoever launched the rumor and told them that... Buy!

Obviously greece will default, but also obviously there'll be more earthquakes in Japan, yet we keep trading jpy...

rumors are rumors - some make more sense than others. E/chf peg at 1.25 doesn't make that much(yet ain't that absurd either to make me go short - fundamentally chf is way overvalued, but right now everyone's so scared they don't give a damn about fundamentals).

p.s - obviously, I could be wrong. But ain't no point in regretting. That's the whole game - you make assumptions. Some are right, some are wrong(and to quote Soros - it's about how much you make when right, vs how much you lose when wrong).
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  • #102,107
  • Sep 22, 2011 6:22am Sep 22, 2011 6:22am
Quoting Donkey
So here's my chart. Contiuation BUOB, would have preferred a close above 9000, but I am considering 8996 close enough considering the size/close of the bar and the strong confluence in the area. I have 2 entries....the demo retrace to the strong PPZ in line with LCS/HCR levels and previous bar highs and bar lows - all within 8 pips of each other. Stop goes on opposite end of bar, and would be reduced quickly if it triggers. This isn't a deep retrace, but there is a lot of confluence so I don't anticipate it much retracement.

Second entry...
BUOB has broken with very little retrace and the break entry has already gone to my FTA at 9120. Stop moved to 8910 reducing about 60-70% of initial risk. My retrace entry order is removed.
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  • #102,108
  • Sep 22, 2011 6:40am Sep 22, 2011 6:40am
Quoting Donkey
Pin never broke so no chance for long entry at 1.2500 area. 1.2840 looks like it could give a nice bounce. Zooming out is interesting look at this ppz.
So this 365 and hcr/lcs/ppz confluence zone acted like a trampoline. Price didn't quite make it down to 1.2840, but it did make it 1.2845. I didn't trade this and looks like I would have missed the train by 5 pips. However from 1.2845 to current bar high at 1.3071 is a potential 126pips from what could have been a real tight stop. I'm looking for potentially 3150ish and then 3220ish.

This is basically a real-time example of some of J16 recent charts that generated the recent "discussion". This is Price Breaking through and Closing Above (Thanks Jarroo), Bar highs, HCRs, 365 ema, and a strong PPZ. Everything we (at least for me) need to be successful at trading is right here...for free, just have some patience and take advantage of it.
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  • #102,109
  • Sep 22, 2011 7:10am Sep 22, 2011 7:10am
Was sleeping during this one.

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  • #102,110
  • Sep 22, 2011 8:02am Sep 22, 2011 8:02am
Quoting gasgas
Hey all

So this OB looks good to me, it looks good even on daily and weekly shows good space till 100.00. Only thing bothers me is its NOT at swing high, so playing it like a break out i guess.

Any comments welcome
Hope you took it Gas

This is a continuation and more tricky as you said to grasp(at least I believe over the traditional way we want the beob at a swing high)
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  • #102,111
  • Sep 22, 2011 8:06am Sep 22, 2011 8:06am
Whew. Talk about a movin' couple of days. Thought it would take months to get us out of most of the consolidation. Guess that is what I get for thinking. Looks like it took us about 2 days for most of the pairs....

Ryan
  • #102,112
  • Sep 22, 2011 8:07am Sep 22, 2011 8:07am
Quoting dmc
Was sleeping during this one.

Attachment
missed it too bud
  • #102,113
  • Sep 22, 2011 8:14am Sep 22, 2011 8:14am
Quoting mbqb11
missed it too bud

Ha ha These are the ones that really test if we really are mentally ok with missing moves in the markets

Ryan
  • #102,114
  • Sep 22, 2011 8:17am Sep 22, 2011 8:17am
Holy bejesus. Stop to BE on my trade. Chart just moved over 60 pips in 3 minutes. Definitely not going to take a loss at this point. In hindsight I probably should have kept my TP at 83.40 as I really don't like to be in on these nutso moves like this. I admit that I don't have nerves of steel... Like I said a few posts back. This is a journey and I am still learning

Ryan
  • #102,115
  • Sep 22, 2011 8:25am Sep 22, 2011 8:25am
Quoting gungriffin
Holy bejesus. Stop to BE on my trade. Chart just moved over 60 pips in 3 minutes. Definitely not going to take a loss at this point. In hindsight I probably should have kept my TP at 83.40 as I really don't like to be in on these nutso moves like this. I admit that I don't have nerves of steel... Like I said a few posts back. This is a journey and I am still learning

Ryan

Correction. To hell with these moves, as I prefer sleep right now. Cashed in the chips at 84.078. I just don't understand exactly who is playing in the sand box right now, but they are a big boy. I for one cannot fight them. For me personally at the moment- "When in doubt, get the hell out."

Ryan
  • #102,116
  • Sep 22, 2011 9:34am Sep 22, 2011 9:34am
Quoting gungriffin
Ha ha These are the ones that really test if we really are mentally ok with missing moves in the markets

Ryan
I honestly think I've cracked that one. Hey, what goes up must come down, right? Best to sit back and plan where it's likely to bounce..

It takes a brave/wise man to bail at times like this, so good for you my friend - you'll sleep easier!
When the going gets weird, the weird turn pro.
  • #102,117
  • Sep 22, 2011 9:36am Sep 22, 2011 9:36am
Quoting novice198
Hi Jaroo,
Thanks for the explantion from your perspective. My perspective is that once a trade has completed we can always rationalise / justify as we want it depending upon the result. (the human brain is wonderful at rationalising actions of the past).

However, posting a (Touch) trade which we could have taken is not the done thing. If it was so obvious, how come all the traders on this forum missed it. I didn't see anyone posting this trade. For that matter, I didn't see any post showing the area to look for PA for a short trade. (maybe someone...
Hey Novice . .. . no offence taken . ..

I understand that many trades here are shown after the fact and I don't post many Touch Trades here because this thread is more geared to PA setups. . . but they can still be very helpful to learn from.

Many did not see James16's level from his recent chart post . .but I'll bet you others will now look for a simalir setup and a light bulb will go off in their heads . . . .they now have a better idea of what to look for. . .if you don't know what to look for . .how can you see it?

Anyways, I gotta go . .off for a long weekend . .we'll talk more . .

Quoting jarroo
Here's a couple to watch. Support to Resistance. Some great bearish PA would be nice to confirm these levels . .even on the lower TFs . . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #102,118
  • Sep 22, 2011 9:44am Sep 22, 2011 9:44am
Time for some dollar weakness? ... Price at strong weekly support on majors, supported by lower band on the S&P and Dow channel. I am in with tight stop.... lets see how that will work out.
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  • #102,119
  • Sep 22, 2011 9:48am Sep 22, 2011 9:48am
S&P and DJ
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  • #102,120
  • Sep 22, 2011 10:51am Sep 22, 2011 10:51am
Quoting mbqb11
Hope you took it Gas

This is a continuation and more tricky as you said to grasp(at least I believe over the traditional way we want the beob at a swing high)
As u said it Mike, if things would stand at swing high, I would probably leave trade open. Continuation is more delicate for sure, so i went out, a bit higher than you. As suspected things start moving in EU session. It was a good trade to make some bucks

Take care
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